Clipped from: https://www.business-standard.com/article/companies/jaypee-infratech-insolvency-suraksha-emerges-as-the-highest-bidder-121051900035_1.html The company was sent for debt resolution in 2017 under the Insolvency and Bankruptcy Code 2016 after it defaulted on debt worth Rs
Category: IBC-SEBI
SAT rejects Sebi view, rules tribunal can function sans technical member | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sat-rejects-sebi-view-rules-tribunal-can-function-sans-technical-member-121051701301_1.html Requests government for faster filling up of vacancies, judicial clarity The Securities Appellate Tribunal has rejected the stock market regulator’s argument that it cannot pass
NBCC, Suraksha submit revised bids – The Financial Express
Clipped from: https://www.financialexpress.com/industry/jaypee-infratech-insolvency-nbcc-suraksha-submit-revised-bids/2250249/ Before submitting the revised plans, both Suraksha and NBCC held meetings with the homebuyers on May 2 and May 7, respectively, people in
How GoI’s gamechanging SWAMIH fund for stalled housing actually works on the ground – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/how-gois-gamechanging-swamih-fund-for-stalled-housing-actually-works-on-the-ground/articleshow/82717641.cmsSynopsis It is an innovative financing structure that must be replicated across several capital-intensive industries. Innovative financing is, indeed, the need of the hour.
IDBI-Sivasankaran deal raises hope for other defaulting promoters – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/idbi-sivasankaran-deal-raises-hoped-for-other-defaulting-promoters/article34572075.ece Firms may be able to take back control of their companies if the debt resolution process fails to find new owners Former promoters
Companies may get time to deposit unspent CSR funds with banks – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/cos-may-get-time-to-deposit-unspent-csr-funds-with-banks/articleshow/82689659.cmsSynopsis Companies are required to spend at least 2% of their average net profit of the preceding three financial years on CSR. In January,
Stricter RBI rules force auditors to rethink on assessing holding companies – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/stricter-rbi-rules-force-auditors-to-rethink-on-assessing-holding-cos/articleshow/82689602.cms Synopsis–Holding companies of large corporate entities are now categorised as “deemed” Non Banking Finance Companies (NBFCs) even if they have not borrowed a
Govt not present as India faces ‘greatest challenge’ in Covid-19: Rajan | Business Standard News
Clipped from: https://www.business-standard.com/article/pti-stories/covid-probably-india-s-greatest-challenge-since-independence-rajan-121051501036_1.html ‘Pandemic has shown that we are all connected,’ says economist and former RBI governor at a virtual event. Covid-19 is probably India’s greatest
Sebi’s relaxed norms likely to give private equity firms faster exits | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/sebi-s-relaxed-norms-likely-to-give-private-equity-firms-faster-exits-121051401494_1.html Sebi also plans to replace the “promoter” concept to “person in control” So far, since PE funds have limited lives and long lock-in
Let promoter clause remain for better accountability – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/let-promoter-clause-remain-for-better-accountability/article34560086.ece Difficult to unearth Sahara-like scams if disclosures are curtailed in DRHP The market regulator Securities and Exchange Board of India last week came
Modernising promoter, albeit gradually – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/modernising-promoter-albeit-gradually/articleshow/82638491.cmsSynopsis We need better corporate governance in India Inc, with the board and management held to account. Hence the reduced regulatory relevance of the
Number of independent directors on decline; PSUs mainly responsible for reduction: Report – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/number-of-independent-directors-on-decline-psus-mainly-responsible-for-reduction-report/articleshow/82629611.cmsSynopsis The total number of IDs reduced to 2,249 in 2020 as against 2,396 in 2019 and 2,494 in the previous year, said the
Sebi objects to Securities Appellate Tribunal missing key member | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-objects-to-securities-appellate-tribunal-missing-key-member-121051301411_1.html Tribunal has taken opinion of senior counsel in the matter The SAT hears appeals against decisions that Sebi takes as securities market regulator
‘Promoter’ vs ‘person in control’: How will Sebi’s new proposal play out? | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/promoter-vs-person-in-control-how-will-sebi-s-new-proposal-play-out-121051301327_1.html The rationale behind replacing the concept of “promoter” with “person in control” is to absolve entities, which, in reality, don’t have any control
Auto-debit payment bounce rate increases again in April | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/second-covid-wave-auto-debit-payment-bounce-rate-increases-again-in-april-121051400052_1.html Experts say the rise may continue, given the lockdowns In absolute terms, in April of the 85.4 million auto-debit transactions initiated, 56.3 million
Independent Directors: Indian companies slow in changing board composition, notes IiAS – The Financial Express
Clipped from: https://www.financialexpress.com/industry/independent-directors-indian-companies-slow-in-changing-board-composition-notes-iias/2251635/ The report has said that 14% (70 companies) were non-compliant with board composition norms. Out of these 70 companies, 55 companies were PSUs.
Bankruptcy: NCLT delays compounded by lack of new appointments – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/bankruptcy-indias-struggling-lenders-need-to-brace-for-more-pain-ahead/articleshow/82605785.cms Synopsis–The government’s prepackaged resolutions for MSMEs is also likely to put further strain on the system. Bankers, lawyers, Insolvency and Bankruptcy Board of
Auto retailers’ lobby writes to FM, RBI governor to request loan moratorium – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/auto/auto-news/auto-retailers-lobby-writes-to-fm-rbi-governor-to-request-loan-moratorium/articleshow/82604831.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Retailers, or dealers, make an upfront payment to automakers while purchasing vehicles and this is usually funded through loans with a payment cycle
Hiring for Debt Recovery Tribunals put on fast track – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/hiring-for-drts-put-on-fast-track/articleshow/82612485.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis A government official confirmed this and said it was looking to appoint around 27 administrators, both as registrars and deputy registrars, in Delhi,
Rationalising regulation | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/rationalising-regulation-121051201470_1.html Sebi’s proposals are in line with changing investor landscape The Securities and Exchange Board of India (Sebi) has released a discussion paper indicating
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